Market Size of Middle-East and Africa Nuclear Power Plant Equipment Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 4.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
MEA Nuclear Power Plant Equipment Market Analysis
The Middle East and Africa nuclear power plant equipment market is expected to grow at a CAGR of more than 4% during the forecast period.
The market was moderately impacted by the Covid-19 pandemic. However, the market has since recovered and is expected to grow steadily during the forecast period.
- Over the long term, the significant contribution of nuclear energy in reducing GHG emissions while fulfilling the increasing energy demands of a growing population and supporting sustainable development in the region is expected to drive the market during the forecast period.
- On the other hand, increasing competition from natural gas and renewables in electricity generation is restraining market growth.
- Nevertheless, rising investments in small modular reactors are expected to be a significant growth opportunity for the market during the forecast period.
MEA Nuclear Power Plant Equipment Industry Segmentation
A nuclear power plant is a facility that converts atomic energy into usable power. In a nuclear electric power plant, the heat produced by a reactor is generally used to drive a turbine which in turn drives an electric generator. Nuclear Power plant equipment is any equipment used in a nuclear power plant for the safe and consistent generation of nuclear energy.
The Middle East and Africa nuclear power plant equipment market is segmented by reactor type, carrier type, and geography. By reactor type, the market is segmented into pressurized water reactors, pressurized heavy water reactors, and other reactor types. By carrier type, the market is segmented into island equipment, auxiliary equipment, and research reactor. The report also covers the market size and forecasts for the region's central counties' nuclear power plant equipment market. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).
| Reactor Type | |
| Pressurized Water Reactor | |
| Pressurized Heavy Water Reactor | |
| Other Reactor Types |
| Carrier Type | |
| Island Equipment | |
| Auxiliary Equipment | |
| Research Reactor |
| Geogrpahy | ||||||
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Middle-East and Africa Nuclear Power Plant Equipment Market Size Summary
The Middle East and Africa nuclear power plant equipment market is poised for steady growth, driven by the region's increasing energy demands and the role of nuclear energy in reducing greenhouse gas emissions. Despite the initial impact of the Covid-19 pandemic, the market has shown resilience and is expected to expand over the forecast period. The push towards sustainable development and the significant investments in small modular reactors present promising opportunities for market growth. However, the market faces challenges from the rising competition of natural gas and renewable energy sources in electricity generation. The region's nuclear power generation saw notable growth, with several reactors under construction, particularly in the United Arab Emirates and Iran, which are expected to bolster the demand for pressurized water reactor (PWR) equipment.
In Saudi Arabia, the nuclear energy program is gaining momentum as the government seeks to reduce its reliance on fossil fuels amid rising electricity demand. The establishment of the Saudi Nuclear Energy Holding Company and plans for large and small nuclear reactors are set to drive the market further. The country's strategic initiatives, including the construction of significant nuclear power plants and the selection of vendors for new facilities, are expected to significantly boost the demand for nuclear power equipment. The market is moderately consolidated, with key players like Korea Electric Power Corporation, Doosan Enerbility, Westinghouse Electric Company, Rosatom State Atomic Energy Corporation, and Mitsubishi Heavy Industries Ltd. actively participating in regional projects, such as the El Dabaa nuclear power plant in Egypt.
Middle-East and Africa Nuclear Power Plant Equipment Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2028
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Reactor Type
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2.1.1 Pressurized Water Reactor
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2.1.2 Pressurized Heavy Water Reactor
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2.1.3 Other Reactor Types
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2.2 Carrier Type
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2.2.1 Island Equipment
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2.2.2 Auxiliary Equipment
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2.2.3 Research Reactor
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2.3 Geogrpahy
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2.3.1 Middle-East and Africa
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2.3.1.1 The United Arab Emirates
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2.3.1.2 Saudi Arabia
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2.3.1.3 South Africa
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2.3.1.4 Rest of Middle-East and Africa
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Middle-East and Africa Nuclear Power Plant Equipment Market Size FAQs
What is the current Middle-East and Africa Nuclear Power Plant Equipment Market size?
The Middle-East and Africa Nuclear Power Plant Equipment Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Middle-East and Africa Nuclear Power Plant Equipment Market?
Korea Electric Power Corporation , Doosan Corporation, Westinghouse Electric Company LLC , Rosatom State Atomic Energy Corporation and Mitsubishi Heavy Industries Ltd are the major companies operating in the Middle-East and Africa Nuclear Power Plant Equipment Market.
